SlowerThanPlatt
Well-Known Member
Mail reporting Mike Ashley has held talks with Wasps
Wasps going into admin & the impact on CCFC (101 Viewers)
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chiefdave
Well-Known Member
you think the NEC Group would kick out the biggest tenants of the stadium bowl who bring hundreds of thousands of people to the venue every year? if anything we'll become the priority and Wasps will be forced to fit in around our needs.
I know some people think you can have a virtually unlimited number of concerts a year in the stadium, the reality is you're looking at 2 or 3 a year max. No promoter is going to want to oversaturate the market. These size shows rely on casual punters. Its only really London that see a huge number of stadium shows every summer.
oldskyblue58
CCFC Finance Director
No I don't, replace us with what ?
Brighton Sky Blue
Well-Known Member
Having to deal with an entity that spends more time in court than on the pitch might not be what they want?
SlowerThanPlatt
Well-Known Member
It’s all coming “out” tonight
Ex-Newcastle owner Mike Ashley held talks with Wasps about takeover
Former Newcastle owner Mike Ashley has held talks with Wasps about a potential takeover as the debt-ridden club battle for their survival. Ashley is understood to have signed a Head of Terms.
jordan210
Well-Known Member
Doesn't he "talk" to literally every sports club that is struggling.
chiefdave
Well-Known Member
NEC Group are a professional outfit, they're not going to come in and tell the football club to piss off or hike the rent to unsustainable levels. If anything they'll concentrate on the exhibition side of the business and be happy they've got a use for the stadium 20 plus event days a year
pusbccfc
Well-Known Member
It’s all coming “out” tonight
Ex-Newcastle owner Mike Ashley held talks with Wasps about takeover
Former Newcastle owner Mike Ashley has held talks with Wasps about a potential takeover as the debt-ridden club battle for their survival. Ashley is understood to have signed a Head of Terms.www.dailymail.co.uk
'The attraction of Wasps for Ashley lies chiefly in the stadium, which runs a profitable hospitality business including a Hilton hotel and Grovesnor Casino, as well as the potential for returning to football by buying Coventry City, who are tenants of the rugby club.
Ashley retains a strong interest in football despite the acrimony that soured his tenure at Newcastle and came close to buying Derby earlier this year before the League One club were purchased by local property developer David Clowes.
Sportsmail understands that Ashley has been in talks with Coventry City Council about plans which would involve control of Wasps, Coventry City and the stadium, while NEC are believed to have made an offer solely for the stadium, which is regarded as a potentially lucrative asset.'
jordan210
Well-Known Member
It’s all coming “out” tonight
Ex-Newcastle owner Mike Ashley held talks with Wasps about takeover
Former Newcastle owner Mike Ashley has held talks with Wasps about a potential takeover as the debt-ridden club battle for their survival. Ashley is understood to have signed a Head of Terms.
I bet Mikes apr to refinance the bind was crazy high. Would suggest no Bank would lend to them.
clint van damme
Well-Known Member
It’s all coming “out” tonight
Ex-Newcastle owner Mike Ashley held talks with Wasps about takeover
Former Newcastle owner Mike Ashley has held talks with Wasps about a potential takeover as the debt-ridden club battle for their survival. Ashley is understood to have signed a Head of Terms.
Sweet baby Jesus, Ashley might want to buy the club.
In the words of Liv Soprano, 'I wish the Lord would take me now'.
jordan210
Well-Known Member
"Wasps owner Derek Richardson is understood to be asking around £50m for the club, plus an immediate cash injection of £12m to cover short-term running costs"
"One well-placed source claimed yesterday that the club are in danger of running out of money for wages and essential costs this week and that overall they are swamped by a ‘debt pile of £65m’.
The source added that the financial crisis has been ‘snow-balling and snow-balling’, with Wasps continuing to use consultants, despite knowing that they can’t afford to pay for their services."
So debt is somewhere between £50-£65m and getting worse every day !
Wonder if the bond holders will get their interest this month
"One well-placed source claimed yesterday that the club are in danger of running out of money for wages and essential costs this week and that overall they are swamped by a ‘debt pile of £65m’.
The source added that the financial crisis has been ‘snow-balling and snow-balling’, with Wasps continuing to use consultants, despite knowing that they can’t afford to pay for their services."
So debt is somewhere between £50-£65m and getting worse every day !
Wonder if the bond holders will get their interest this month
chiefdave
Well-Known Member
If the rugby club get separated from the stadium you have to wonder about their long term future here. There wouldn't be much to tie them to a stadium far too big for them in a city where they aren't exactly welcomed with open arms and have little history.
At what point does whoever end up owning Wasps start running the figures to see if they're more financially viable elsewhere. If its someone with a history with Wasps you could even potentially have a situation where they want to be seen as the saviour who takes them home.
Don't think they will be imminently leaving but losing the stadium would certainly bring uncertainty about their long term future here.
At what point does whoever end up owning Wasps start running the figures to see if they're more financially viable elsewhere. If its someone with a history with Wasps you could even potentially have a situation where they want to be seen as the saviour who takes them home.
Don't think they will be imminently leaving but losing the stadium would certainly bring uncertainty about their long term future here.
Liquid Gold
Well-Known Member
Ashley is too hard nosed to pump £50m into a rugby club that pisses £10m a year away.
It would only work if he got the whole lot including us. I don't see it happening though.
It would only work if he got the whole lot including us. I don't see it happening though.
Brighton Sky Blue
Well-Known Member
He would be a considerable step up from the current shysters
Gynnsthetonic
Well-Known Member
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Liquid Gold
Well-Known Member
I still think the Alexanda Stadium works as a more viable home for them. It's smaller in capacity but in a bigger city without an established club and they wouldn't be putting backs up like they did here taking our home away.
clint van damme
Well-Known Member
The problem is having endured the current shysters I'm not ready to endure another one just because he's slightly better.
I don't agree he'd be considerably better to be honest.
oldskyblue58
CCFC Finance Director
Why would sisu go to court with any new owners though?
clint van damme
Well-Known Member
Saw him at the game Saturday, should be under house arrest and with his WiFi confiscated until he gets his hair cut and has a shave.
HuckerbyDublinWhelan
Well-Known Member
Sounds like that’s his plan according to that article
shepardo01
Well-Known Member
Yes, they do have "supporters". Sadly though, these supporters have been/were willing to see CCFC destroyed to spite the owners.
It was some of these "supporters" that were dealing with Wasps, behind the clubs back, before the club moved to Northampton.
I'm not entirely sure that we won't be shafted by the council again....
clint van damme
Well-Known Member
When he says some are looking at all the pieces in play does that include the new stadium?!
Brighton Sky Blue
Well-Known Member
He’d probably aim to turn us into a top flight yo yo, left Newcastle in a pretty healthy state financially etc. He’s also a c**t don’t get me wrong, but would surely be better than the death by a thousand cuts we’re certain to get staying as we are.
Liquid Gold
Well-Known Member
I think he would be better. He knows the money is in the PL so would probably bankroll a push to get there and then try and tread water to cream while we're there. Our ambition would be 17th in the PL but that's a hell of a lot better than likely dropping back to L1 before too long.
Not that it excites me much though.
torchomatic
Well-Known Member
We'd be part of the deal too according to the article.
Liquid Gold
Well-Known Member
I just don't see why you'd pay £50m for Wasps and the arena plus what, £30m to make sisu piss off? £80m is a lot of money for three loss making entities.
Brighton Sky Blue
Well-Known Member
Force of habit
olderskyblue
Well-Known Member
dirty sod
Gynnsthetonic
Well-Known Member
Would NEC want to purchase the football club though or just give a lease SISU and we just carry on plodding along
chiefdave
Well-Known Member
the ones I want to see involved are AEG. not only would we get some decent gigs there would be a decent chance they'd buy us as well.
they also tend to develop around their venues with bars, restaurants, cinemas etc.
chiefdave
Well-Known Member
They've been diversifying into owning and operating other exhibition and concert venues. They will just want the venue.
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